Brokers Issue Forecasts for Lexaria Bioscience Corp.’s Q3 2024 Earnings (NASDAQ:LEXX)

Lexaria Bioscience Corp. (NASDAQ:LEXX) – Equities researchers at Zacks Small Cap issued their Q3 2024 earnings per share estimates for Lexaria Bioscience in a report released on Monday, April 29th. Zacks Small Cap analyst J. Vandermosten forecasts that the company will post earnings of ($0.13) per share for the quarter. The consensus estimate for Lexaria Bioscience’s current full-year earnings is ($0.60) per share. Zacks Small Cap also issued estimates for Lexaria Bioscience’s Q4 2024 earnings at ($0.13) EPS and FY2026 earnings at ($0.36) EPS.

Separately, Maxim Group lifted their price target on shares of Lexaria Bioscience from $3.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th.

Lexaria Bioscience Price Performance

NASDAQ LEXX opened at $3.49 on Tuesday. The firm has a market capitalization of $44.97 million, a PE ratio of -5.13 and a beta of 0.94. Lexaria Bioscience has a 12 month low of $0.65 and a 12 month high of $6.85. The company’s 50 day simple moving average is $3.17 and its 200 day simple moving average is $2.08.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Armistice Capital LLC acquired a new stake in shares of Lexaria Bioscience in the third quarter worth $889,000. Cowen AND Company LLC bought a new stake in Lexaria Bioscience in the 4th quarter valued at $320,000. Finally, Welch Group LLC acquired a new stake in Lexaria Bioscience in the 1st quarter worth $87,000. Institutional investors own 13.06% of the company’s stock.

About Lexaria Bioscience

Lexaria Bioscience Corp. operates as a biotechnology company. It develops and out-licenses its patented drug delivery technology, DehydraTECH, which combines lipophilic molecules or active pharmaceutical ingredients with specific long-chain fatty acids and carrier compounds that improve the way they enter the bloodstream, increasing their effectiveness and allowing for lower overall dosing while promoting healthier oral ingestion methods.